Cambiar Investors LLC Sells 9,860 Shares of TE Connectivity Ltd. (NYSE:TEL)

Cambiar Investors LLC trimmed its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 2.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 369,047 shares of the electronics maker's stock after selling 9,860 shares during the period. TE Connectivity accounts for 2.1% of Cambiar Investors LLC's portfolio, making the stock its 13th largest holding. Cambiar Investors LLC owned approximately 0.12% of TE Connectivity worth $55,722,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Catalyst Financial Partners LLC increased its holdings in shares of TE Connectivity by 24.8% in the third quarter. Catalyst Financial Partners LLC now owns 2,332 shares of the electronics maker's stock worth $352,000 after purchasing an additional 463 shares during the last quarter. Nicholas Hoffman & Company LLC. grew its holdings in TE Connectivity by 13.2% during the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 1,676 shares of the electronics maker's stock valued at $253,000 after buying an additional 195 shares in the last quarter. Integrated Advisors Network LLC increased its stake in TE Connectivity by 49.7% in the 3rd quarter. Integrated Advisors Network LLC now owns 4,267 shares of the electronics maker's stock worth $644,000 after acquiring an additional 1,416 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of TE Connectivity by 39.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 93,360 shares of the electronics maker's stock worth $14,096,000 after acquiring an additional 26,270 shares in the last quarter. Finally, Inscription Capital LLC bought a new position in shares of TE Connectivity during the 3rd quarter valued at approximately $313,000. 91.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of TE Connectivity from $189.00 to $179.00 and set a "buy" rating on the stock in a research report on Tuesday, October 1st. Vertical Research began coverage on shares of TE Connectivity in a research report on Tuesday, July 23rd. They set a "hold" rating and a $155.00 target price on the stock. Wells Fargo & Company dropped their price target on TE Connectivity from $155.00 to $153.00 and set an "equal weight" rating for the company in a research report on Friday, September 20th. Robert W. Baird upped their price objective on TE Connectivity from $162.00 to $170.00 and gave the company an "outperform" rating in a research report on Thursday, July 25th. Finally, Truist Financial lifted their target price on TE Connectivity from $151.00 to $156.00 and gave the stock a "hold" rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $159.55.

TE Connectivity Trading Up 1.8 %

Shares of NYSE TEL traded up $2.60 during mid-day trading on Friday, reaching $150.02. The company had a trading volume of 1,516,568 shares, compared to its average volume of 1,600,303. TE Connectivity Ltd. has a 52 week low of $122.30 and a 52 week high of $159.98. The business's 50-day moving average is $147.94 and its 200-day moving average is $148.49. The stock has a market cap of $45.59 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 2.00 and a beta of 1.33. The company has a current ratio of 1.61, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting analysts' consensus estimates of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. During the same period last year, the company posted $1.78 earnings per share. The company's quarterly revenue was up .8% compared to the same quarter last year. Equities analysts expect that TE Connectivity Ltd. will post 8.16 earnings per share for the current year.

TE Connectivity announced that its board has authorized a stock repurchase plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.